If you are looking for a path to secure your future and the future of your loved ones, obtaining a second passport might be the best option for financial and travel freedom. Many people look beyond the usual investment requirements when it comes to obtaining dual citizenship.
Many great countries host a Citizenship by investment program. However, in this article, we will discuss the benefits of one in particular – Grenada.
Grenada is a beautiful country that offers opportunities for personal and professional growth, financial and economic stability, and options to travel with more than a hundred countries visa-free. (Grenada is one of the 11 countries that offer their citizens visa-free entry to the Republic of China!)
We’ve chosen Grenada as the focal point because many investors deposit their riches in the real estate properties, in government-based projects, or via donations in the country.
Recognized Dual Citizenship
One of the key benefits of obtaining a Grenada passport is the recognition of dual citizenship. The country officially recognizes the second passport, so you will be considered a dual citizen of Grenada and your homeland. You will have privacy when it comes to disclosing your second passport, which means Grenada will not disclose your new nationality to your homeland.
Fast Application Process
Grenada’s application process is pretty fast, considering the programs of different countries. Within 120 days, you’ll be allowed to secure your citizenship without many hustles. However, this option is available if you invest in real estate in the country. With other investment options, it might take longer than usual.
Grenada is one of the few countries that doesn’t require its citizens to reside in. You’ll be able to achieve your Grenadian status without setting foot in the country. In fact, visiting the country is not on the requirement list!
Some of the other programs might require you to learn the basics of the country you’ll apply for citizenship. It’s not the case with Grenada! Once you acquire Grenadian citizenship, you’ll have it for life.
You don’t need to re-sell the property you’ll purchase in Grenada. You can enjoy its perks in the years to come since it’s a secure investment that will grant you ownership of a property.
Business Visa to the USA
An additional benefit of obtaining a second passport in Grenada is the chance to obtain an E-2 visa. There is no investor visa for immigrants, so with the E-2 visa, you can move to the United States to do business. If the company makes enough profit, the investor can stay in the USA.
The investor needs to invest $200K, however, there is no maximum requirement for investment. Once you deposit the amount, it can take up to 5 months to secure the visa. Though, bear in mind that the visa is not available to anyone who will apply. It requires a special agreement between the USA and the country of citizenship. If there is no agreement on the type, an EB-5 visa can be obtained.
Grenada is a country full of opportunities. Tourism is booming, so as an investor, you can benefit from owning a real estate property that can be rented or used for profit in the hospitality area.
Option to Include Family Members in The Application
If you are considering obtaining dual citizenship for you and your family, Grenada is the perfect country to do so! The program is cost-effective for families as well and it’s a great way of obtaining full family citizenship.
Any children up to 30 years can be included with the principal applicant as co-dependent. Your spouse, parents, and unmarried siblings can participate in the program. The fees for participating in the program will be the same for the family members as they would be for the main applicant.
Considering the social and economic circumstances nowadays, Grenada is one country that reflects the situation appropriately. The dependents like children might be granted access to top universities and schools, and your family can enjoy the benefits of living in a stable country.
Citizenship by investment in Grenada provides many benefits, among which is the tax relief option. The country has no tax on inheritance or gifts, nor on foreign income or capital gains. There is no return of profits or restriction of capital.
There is a potential of returning your property investment once you’ve applied via the real investment option. You can rent out your property since tourism in Grenada has been flourishing in the past couple of years. You can participate in growth opportunities in the hospitality and tourism areas.
Why Obtain Grenadian Citizenship?
Besides the many perks mentioned above, Grenada is a great country to obtain a second passport.
For more information on similar topics, please feel free to check our blog.
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